OTTAWA, Sept 24 (Reuters) - A senior Bank of Canada official
urged global policymakers on Tuesday to push ahead with
financial system reforms despite economic weakness, saying
financial stability is an important precondition for growth.

"Some have argued that, given the weak recovery, now is not
the time for the broad financial sector reform being promoted by
the FSB (Financial Stability Board). That argument is
wrong-headed," Lawrence Schembri said in his first speech since
being appointed as a central bank deputy governor in February.

He said the FSB, operating under the direction of the Group
of 20 leading economies, closely monitors the effects of new
regulations for unintended consequences.